Insider Selling: Argan, Inc. (NYSE:AGX) Director Sells $124,192.00 in Stock

Argan, Inc. (NYSE:AGX) Director Peter W. Getsinger sold 800 shares of the stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $155.24, for a total transaction of $124,192.00. Following the transaction, the director now owns 19,177 shares in the company, valued at approximately $2,977,037.48. The trade was a 4.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Argan Stock Down 0.2 %

NYSE AGX opened at $175.12 on Friday. The firm has a market cap of $2.38 billion, a PE ratio of 36.64 and a beta of 0.56. Argan, Inc. has a 52 week low of $43.44 and a 52 week high of $178.38. The company has a 50 day moving average price of $149.85 and a 200 day moving average price of $112.40.

Argan (NYSE:AGX) last issued its quarterly earnings data on Thursday, December 5th. The construction company reported $2.00 EPS for the quarter, beating the consensus estimate of $1.26 by $0.74. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $225.60 million. Argan had a return on equity of 21.66% and a net margin of 8.20%. The company’s quarterly revenue was up 56.9% on a year-over-year basis.

Argan Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Thursday, January 23rd will be issued a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Thursday, January 23rd. Argan’s dividend payout ratio is presently 31.38%.

Institutional Investors Weigh In On Argan

A number of large investors have recently modified their holdings of AGX. Carnegie Investment Counsel acquired a new stake in Argan in the 4th quarter worth approximately $217,000. CWA Asset Management Group LLC lifted its stake in shares of Argan by 16.0% during the fourth quarter. CWA Asset Management Group LLC now owns 16,663 shares of the construction company’s stock worth $2,284,000 after buying an additional 2,303 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Argan by 70.8% during the third quarter. JPMorgan Chase & Co. now owns 37,819 shares of the construction company’s stock valued at $3,836,000 after buying an additional 15,681 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Argan in the 3rd quarter valued at $1,373,000. Finally, Lord Abbett & CO. LLC purchased a new position in Argan in the 3rd quarter worth $6,687,000. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on AGX. StockNews.com downgraded shares of Argan from a “buy” rating to a “hold” rating in a research note on Tuesday, October 29th. CJS Securities reaffirmed a “market perform” rating and set a $150.00 target price on shares of Argan in a research report on Friday, December 6th. Finally, Lake Street Capital lowered Argan from a “buy” rating to a “hold” rating and boosted their price target for the stock from $85.00 to $150.00 in a research report on Tuesday, December 3rd.

Argan Company Profile

Argan, Inc, through its subsidiaries, provides engineering, procurement, construction, commissioning, maintenance, project development, and technical consulting services to the power generation market. The company operates through Power Services, Industrial Services, and Telecom Services segments. The Power Services segment offers engineering, procurement, and construction, as well as designing, building, and commissioning of large-scale energy projects to the owners of alternative energy facilities, such as biomass plants, wind farms, and solar fields; and design, construction, project management, start-up, and operation services for projects with approximately 18 gigawatts of power-generating capacity.